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Alexei Zverev Senior Counsel, EBRD Budapest , 7 March 2007

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Presentation on theme: "Alexei Zverev Senior Counsel, EBRD Budapest , 7 March 2007"— Presentation transcript:

1 Alexei Zverev Senior Counsel, EBRD Budapest , 7 March 2007
Overview of Concession Legislation in Countries of Central and Eastern Europe Alexei Zverev Senior Counsel, EBRD Budapest , 7 March 2007

2 Issues to be discussed EBRD’s Legal Transition Programme (LTP)
PPP policy Legal framework Results of EBRD evaluations Legislative trends and challenges

3 LTP activities in the area of PPP
EBRD: Participates in and contributes to international standard-setting initiatives Monitors and analyses the status of legal transition in its countries of operations and develops measurement tools to assess legal risk for EBRD investments Develops and implements technical assistance projects in its countries of operations Advances legal reform through various outreach activities, including publication of its legal journal, Law in transition

4 PPP policy Why policy issues are important Legal framework
Institutional infrastructure Awareness and professional development

5 Legal framework Clear Stable Predictable Fair Flexible

6 EBRD Legal Assessments
Legal Indicator Surveys Sector Laws Assessment

7 Sector Laws Assessment : Methodology
Development of a Concession Checklist Reference to relevant "international standards" as benchmarks (in particular the UNCITRAL Legislative Guide on Privately Financed Infrastructure Projects) Assessment per/classification by core area Global assessment: total amount of points per core area Distinction between countries with a single Concession Law and those without it (assessment of the first two chapters only)

8 Countries with a concession law – 2005 update of EBRD Concessions Law Assessment

9 Scores per dimension/core area
Policy framework as a separate criterion Is there a direct correlation/link between policy and legal framework? Are general perceptions proved to be right? “Best” and “worst” core areas

10 Levels of compliance in core areas of concessions legislation – Czech Republic, Hungary, Slovak Republic

11 Levels of compliance in core areas of concessions legislation – Estonia, Latvia, Lithuania - 2005

12 Legal Indicator Survey
Methodology Case Study Challenges Results

13 Measuring the effectiveness of concessions legal frameworks – 2006 Legal Indicator Survey
10 20 30 40 50 60 70 80 90 100 *Uzbekistan *Tajikistan *Belarus *Kyrgyz Rep. *Azerbaijan Moldova Montenegro Russia *Mongolia *Armenia Poland Ukraine Bosnia and Herz. *Estonia *Albania Latvia Georgia Serbia *Slovak Rep. FYR Macedonia Croatia Kazakhstan Hungary Lithuania Romania *Slovenia Bulgaria *Czech Rep. Per cent Existence of Concessions Selection Process Project Agreement Termination * Countries that implemented only one concession as defined or none at all by July 2006 Very efficient Not

14 Measuring compliance of concessions legislation against international standards
Concessions Laws in Transition Countries Extensiveness v. Effectiveness 10 20 30 40 50 60 70 80 90 100 *Czech Rep. *Estonia Hungary Latvia Lithuania Poland *Slovak Rep. *Slovenia *Albania Bosnia and Herz. Bulgaria Croatia FYR Macedonia Montenegro Romania Serbia *Armenia *Azerbaijan *Belarus Georgia Kazakhstan *Kyrgyz Rep. Moldova *Mongolia Russia *Tajikistan Turkmenistan Ukraine *Uzbekistan Extensiveness EBRD 2005 Effectiveness EBRD 2006 Per cent CEB SEE CIS (and Mongolia) Very high compliance/ effectiveness Very low * Countries that only implemented one concession as defined or none at all by July 2006

15 Common impediments to PPP
Absence of a clear PPP policy Inadequacy of concession laws relative to international legal best standards Lack of institutional support and capacity / lack of skilled public sector officials Security/assignment restrictions Lack of variety of capital market instruments Budgetary constraints

16 Some legislative trends
General concessions law environment vs sector laws approach Estonia Kazakhstan/Slovak Republic Romania

17 Conclusion EBRD countries of operations have much room for improvement. Most still need to contemplate and implement further law reform to modernise their legal framework if they wish to enable PPPs.

18 Alexei Zverev Senior Counsel, EBRD zverevA@ebrd.com
Alexei Zverev Senior Counsel, EBRD


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